China outlaws selling of shares

From Bloomie:

China’s securities regulator banned major shareholders, corporate executives and directors from selling stakes in listed companies for six months, its latest effort to stop the nation’s $3.5 trillion stock-market rout.

Investors with stakes exceeding 5 percent must maintain their positions, the China Securities Regulatory Commission said in a statement. The rule is intended to guard capital-market stability amid an “unreasonable plunge” in share prices, the CSRC said.

All of this official panic is simply causing more panic. Here is the list of official attempts to address the crash from Zero Hedge:

20150707_chinaactions

 

For technocrats that rightly deserve a very high reputation for economic management, this is a total embolism.

Comments

  1. ErmingtonPlumbingMEMBER

    Well they are a Communist dictatorship with no real or meaningfull, legal protection of private property.

    The ban is quite logical and predictable from their form of Totalitorian Government, where the rule of law only exists to serve power.

  2. KlimashkinaSydney

    Comical … To the extent that the authorities are finding themselves powerless and are just showing an ever-weakening hand.

  3. APRA are monitoring events in China very closely and making lots of notes on their napkins and the palms of their ever so slightly sweaty palms.

    There is no truth to the scurrilous rumours that if the Sydney Property Market softens the following plan will be activated.

    1. Investment property owners will be directed to ‘eat up’ and buy one for the country.

    2. Owners of real estate agencies will be required to ramp up their SMSF exposure to property.

    3. Auctions will be required to “pass in” a property if bidding does not exceed the suburb media by at least 5%.

    Everyone knows that a market cannot crash if you stop people selling at lower prices.

    Dr Dutchblooms thinks such measures are unecessary of course as Sydney is still 30% too cheap.

  4. Hi Barnaby,

    Well done for your comments about the mine. You are a politician with passion, and that is terrific.

    On the other hand, Many of us average people in Australia are totally fed up with all sides of politics.

    We have had enough.

    This and previous governments serve for one group, but they dont serve or represent a growing political mass.

    I seriously want a massive recession now in Australia because this government, and that previous abomination of a party in Rudd/Gillard, have put Australia on a course of lower living standards which only our kids will have to endure, while thir baby boomer parents enjoy the comforts of indirect complicity with aiding and abbetting illegal forein property investment etc erc.

    Our country is bleeding, and pleading for people with courage, conviction, vision, and most importantly, advocating for our kids.

    Barnaby, you must know/sense that there is a rising/growing number of well-informed and connected people that will allign and unite to make inroads on behalf of our kids, and fill the void that current politicians have failed to do.

    CURRENTLY, THE WORDS “KIDS”, “YOUTH” dont get mentioned enough, nor any policies of substance are being directed at them.

    Here is an email i just sent to your colleague in Greg Hunt:

    ======================================

    Hi Greg,

    This will most likely not be read by you, since my generation (younger), hardly gets a voice heard and enacted on by politicians of all political persuasion.

    REQUEST: Please do not proceed with the Shenhua mine.

    Our country is fast becoming the laughing stock of Asia.

    What identity do you believe Australia has now Mr Hunt?

    It is an identity entrenched in datedness, visionless, weakness, and totally devoid of people appreciating the gravity of the situation facing our kids…….if you guys had any idea, you would not be continually advertising to the contrary through examples of borderline treasonous acts such as this.

    We are selling off our famlands to overseas interests, and willingly allowing them to proceed to pollute our landscape like theyve polluted their own.

    There is a widely held view i believe, that you, along with your colleagues, be held for treason against Australian’s youth if you go ahead with such a decision.

    Please reconsider so that you can, with all conscience, say with honesty on your death bed, that you advocated for our Australian kids, who are Greg, believe it or not, our future.

    DO NOT PROCEED WITH THIS INJUSTICE TO EVEN OUR UNBORN.

    We already have a situation where Australia is in jeopardy of losing 4-5 million jobs in the next decade (equating to around 40% of the workforce). WHAT ARE YOU GUYS SERIOUSLY DOING ABOUT THAT??

    A tokenistic gesture to address property unaffordability is at best, disrespectful to the intelligence of Australians who see Australan governments as against their own people.

    If you were for the people, such issues COULD and CAN be addressed properly, instead of pathetic measures that wont curb the influx of illegal foreign property investment in the fast becoming unlucky country.

    Due to decisions being made in conjunction with the inaction on other fronts, our youth feel that their own country are against them, not for them. Which is why, at the very first opportunity, a brain drain will occur/is occurring, since AUSTRALIA IS GOING BACKWARD….due to BACKWARD-thinking POLITICIANS.

    The likes of you and Mr Robb (who stupidly have got into bed with a communist regime who like to pollute its own people then ruin others, and who builds artificial islands for what purpose? (offense), and who like to disrespect the local Aussie property market by legitimising money through illegal investment), are a major reason why both Liberal and Labour must enjoy the short years left in power, since the generation you target your policies towards, are retiring on mass. This will make you IRRELEVANT as a party since your already dated agenda is totally at odds with the future welfare of our nation’s future….our kids.
    Guess what then?
    You guys will be forced to start considering the futures of the lost, and long neglected youth that feel their wn country has betrayed them.

    By this time, the damage would be such that there will ge no coming back for both the 2 major parties.

    You will hear much more from the likes of me Mr Hunt, especially if such idiotic, shallow, short-sighted decisions continue to flourish and stench both your party and the other mob.

    Me

    • Fabian AlderseyMEMBER

      He would have stopped reading (if he ever started) at “if you guys had any idea”. The moment you directly insult someone, they’ll dismiss you and your whole argument goes out the window.

    • “Well done for your comments about the mine”.
      Yes, but they are only comments from Banarby, no action or threats to cross the floor or anything, just comments. Words are cheap.

      The Nationals are nothing but Liberal lap dogs. Useless

      • Ronin8317MEMBER

        The saddest thing is that the National Party CAN hold the government to ransom in the Senate. They have the numbers. Barnaby Joyce can do better than empty words.

  5. Barnaby,

    If this mine goes ahead, that is a concious decision by the government to formerly declare war on its own people.
    What do you think the logical outcome in that case, would be a natural and appropriate response by the people?
    We are on the precipice of major internal conflicts emerging in Australia due to the selloff of our nation.

    Me

  6. Hi Karl,

    You are a busy man, and most likely would have forgotten lil ol me and our phone conversation a couple of months back re your TV commercial about Australia’s future, and where the jobs will come from. I emailed you at the time and challenged you on why you would publicise IT as the way forward in light of my proposition that IT is being decimated in Australia.

    Im wondering where your mindset is now on this?

    Have you adjusted your views or still endorse the commercial you got paid for?

    Just to give you some reading, please see the following article from a reputable organisation.

    http://www.ceda.com.au/2015/06/16/five-million-Aussie-jobs-gone-in-10-to-15-years

    Dr Karl,

    I will be working behind the scenes for the youth of Australia and their future.

    I feel that many in the public eye are pushing an agenda that not only ignores future generations by design, but even if they do, it is tokenism at best.

    But unlike you, I will work in stealth since I, along with other people of my age, are beyond cynical with the media and the pathetic crop of self-serving politicians that predominantly belong to a generation that cango to their death beds with the knowledge they have left the state of Australia in a shambles, and far more damaged than when they received it.

    Yes, the good ol self-absorbed boomers. This has nothing to do with stating my envy of a generation that have accumulated wealth that only their kids generations can dream of. No, on the contrary, they deserve the guilt that goes with that accumulation by the blatant and disgusting INACTION of the same generation to make Australia, a country our children want to remain in, to aspire to achieve, to live a good life.

    With every passing day, we see the erosion of living standards in Australia, the growing gap which can broadly be classified into the haves (elderly) and have-nots (youth), and the demoralising acceptance on the part of a generation that has the political weight to change things, continue to operate in an egocentric, shallow, defiance of the truth.

    I will stand up for our youth, unlike those in the media and politicians.

    I sincerely hope Australia suffers a MASSIVE bust, especially in property.

    This may just be the catalyst required to force real change in a country which has forgotten its kids.

    Karl,

    Here is a blog i recently posted.

    http://www.macrobusiness.com.au/2015/07/mwu-warns-on-temporary-chinese-labour/
    My comment is posted under name “Steernorth”

    Nothing is being done whatsoever for kids.

    I am going to amass a large collection of resources and map out a strategy to publicise (only when opportune) what needs to be done,and how it can be done.

    We need a new fresh look at what Australia should be, since right now, the only vision is how many immigrants do we allow in to service our Aged Care Facilities for our ageing boomer population, while concurrently, turning a blind eye to the erosion of full time work for our youth, and the rise of life-long renting, and life-long job casualisation,and thus life-long anxiety, uncertainty, insecurity, and the organic natural consequence of rise in true mental health problems that will be of epidemic proportions.

    I am just glad i am not a boomer since my legacy wont be what your generation will leave.

    Good luck to you Dr Karl :>)

    • You are going to bust a gut keeping going the way you are. It’s not going to get you anywhere. You know that.
      If you want to look to previous generations for help, then look towards mine; that marched in the streets, and elected a Government that represented our interest, if even for a brief moment.
      Until it’s more than ‘just you’, nothing will happen. Until you can mobilize others of your age to passionately follow the lead you are giving them, nothing will happen; and I don’t see you achieving that ( second person plural).
      MacroBusiness has been beating its head against the wall for nigh on 5 years now, and where has it gotten it? Not far, in the grand scheme of things. But it keeps trying. Maybe attracting passion like your to its readership is getting somewhere. Maybe…..
      I applaud you passion; I echo many of your sentiments, but there is another way to go about things, and it involves…involvement.
      Good luck, all the same. It’s about doing things differently, I suppose, that creates change.

      • Hi Janet. Firstly, thank you so much for taking the time to respond to me. I am all ears when it comes to what others suggest are better ways to do things. Maybe you are right that “involvement” is the way to go…and maybe that definition of involvement could be more beneficial than what I do now to “involve” myself in the discussion. I do what I can, when I can. Let’s just say I am a very busy person, a single income renting family that concurrently works above a normal full time week and concurrently studies at night. I use this social media because it is a fast way for myself to project to people, and I am time-poor. If/when I am in a different position, I will adopt a more “involving” approach. Janet, I sincerely appreciate your message to me, since at least I achieved something I guess, and that is interest in what I had to say from another, so for that I thank you :>) People like me are just attempting to spark something. Janet, when you say “you know that”, presumably in the context that you’re assuming I have enough time to waste by using this site to voice my opinion, I’m sorry to say that that is not right. I don’t have the time to waste. I don’t think this is a waste of time. If you can honestly say it is, then I’m wondering why you are using the same social media as myself. Good luck to you. I’m not a smart a either. Take care :>)

  7. Who the heck would buy, knowing that the government might turn around the next week and ban you from selling?

  8. The CCP seem intent on embarrassing themselves. You’ve got to know when to walk away – for them it was on or about Bloomsday.

  9. TailorTrashMEMBER

    Maybe the CCP stop the flow of questionable money into our homes in Australia and order it to be invested in stocks at home ……..our own government has seemed incapable of stopping the flow …….